Bourse bounces back

31 May 2012 - {{hitsCtrl.values.hits}}

After a 2.5 percent fall on Tuesday, the Colombo stocks bounced back quite strongly yesterday with the benchmark All Share Price Index (ASI) rising over 1 percent, amidst thin margins.

During yesterday's trading, The ASI gained 52 points (1.08 percent) to close at 4865 while the more liquid Milanka Price Index (MPI) lost 15 points (0.34 percent) to close at 4,327.

The turnover recorded was Rs.674 million and the share volume was 24.3 million.

According to brokers, the forced selling scenario which sent the market into deep red territory on Tuesday seemed to have temporarily over.

The trading yesterday was dominated by share transactions of selected blue chip companies like John Keells Holdings (JKH) and Central Finance.

As per brokers, nearly half of the day’s turnover came from the trades that took place on JKH shares.

Three-large blocks of JKH shares of 271,000, 430,275 and 1 million parcels crossed the trading floor at 185.00 rupees a share each. A separate block of 158,943 JKH shares was also sold at 187.80 rupees.

In the meantime retails counters including Environmental Resources Plc, HVA Foods Plc, Blue Diamond Plc traded actively during trading hours.

Foreign participation stood at 48.6% of the total market activity and foreign investors were the net sellers with a net foreign outflow of Rs.110.4 million.

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Bourse bounces back

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